State Bank of Hyderabad Fixed Deposit calculator – FD Options

In a periodic interest payout option, State Bank of Hyderabad would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain the same across the life of the deposit. On maturity, unless the deposit is renewed, would transfer the principal amount to your bank account.

In case you opt for a State Bank of Hyderabad cumulative deposit, on maturity you would get a credit for the principal and interest earned net of TDS.

Calculate the FD maturity amount using the FD calculator.

Fixed Deposit calculator State Bank of Hyderabad – Will TDS be deducted?

In case the interest earned by you across all your fixed deposits across all branches of State Bank of Hyderabad in a year exceeds 10000, the bank must deduct TDS at 10.3%. In case your IT PAN is not updated in the State Bank of Hyderabad records, it must deduct twice the TDS at 20.6%. So, do remember to update your PAN on your FD.

Sorry, but we aren’t done with tax yet. This was only the TDS. Now, you would need to add the interest income on all your State Bank of Hyderabad FD’s and other FD’s to your taxable income for the year. Based upon your tax bracket, income tax is payable on this income. Remember that you must estimate the interest income and all your other incomes and, based on this, pay advance tax on advance tax payment dates (15th Sep, 15th Dec, 15th March and 31st March).

State Bank of Hyderabad will also issue you a Form 16A giving details of tax deducted on FD interest and tax deposited by it with government treasury. The TDS amount deposited by the bank with Income Tax Department can be verified in your 26AS statement available online on IT department website or through your net banking account. You can claim credit for the TDS amount in your annual Income Tax Return.

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